Monday, June 27, 2011

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  • GayatriS
    01-08 06:43 PM
    And respect and humility are another thing that differentiate us Indians from others!




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  • jasmin45
    09-08 02:17 PM
    Based on my research on net and discussion with economic savy friends and my own limited knowledge in economics, by any calculation, real-estate in India is going to be in deep trouble. It will be a uncalculated gamble to invest in realty at current prices in India just because the commitment is large and long term with 0 visibility

    Even in NRI perspective, set aside the low GDP of india and assume that it will grow beyond wildest dreams in next 20 years (atleast I hope they will control the inflation), the prices are still beyond the Purchasing Power Parity between nations for example US and India. US PPP is around $41500 and stand at 8th position among world countries. Now all 7 countries above US are so called non attractive for NRI's. Where does india stand? 140th position with a Purchasing Power Parity of $3300. Only poor south african, south asian countries are below India in the list.

    http://www.nationmaster.com/graph/eco_gdp_pur_pow_par_percap-purchasing-power-parity-per-capita

    Assume that at some point in future you will need to realize the investment say 5 years from now or even 10 years. Who will buy it from you? only 2% of indian families potentially can earn $200,000 in life time. Given this, I think you can only hope that another NRI would earn and save enough at that time to buy from you paying more that what you have invested + (alternate investment value).

    There are estimated 182000 including the ones waiting for approvals real estate flats and complexes are being built all across india's major cities expanding into suburbs. As someone said, NRI's invest in majority of the projects even before 10% of development is completed. These projects will be completed in next 5 to 7 years. Beyond that new projects that may come up in future which will potentially increase the supply combined with poor purchasing power of local folks and corruption is a real recipe for disaster.

    I am sure majority of NRI's did not tak a deep look at economic and political scenarios before making decision on buying realty in India. I was shocked to hear one builder with such convincing tone, saying buy it now or you will loose the chance. After a week, he increased the price by 2% and told us that there is a huge demand and he already sold 20 units in 5 days since we talked to him. Hard to believe. I later heard that he is still selling units to NRI's :) and tells them same story.

    That triggered me to do some research and study the situation in that country and when I try to connect the dots.. jeez its scary. It seems they do not consider capacity of drainage, sewer and waste disposal in the area to support increased usage in their project building these flats which will house 100's of new families. Public water supply pipes are also not expanded around the development area to cater increased demand and consumption. Builders just connect water pipes to the nearest public water supply point. God knows when, that public water supply pipes were layed and to support how much consumption? Water preasure in these buildings are 0 and you just see drops :) Solution to this, Builder says its a common norm that all occupants will buy the water and share the cost.

    I am not throwing the my small savings to gamble in India. If you get a good deal, go for it or just wait for a correction. Now the question is what is a good deal in given circumstances? If the rotation slow down, investment locks up, poor local PPP with make credit expensive and preasure will build on borrowers to liquidate property which will lead to fall in prices. We can even expect a credit crisis in India in next couple of years.

    Do not even compare effect of credit crisis in US to if at all it is going to happen in India. US is still the strongest economy and India is not. (I am not talking about growth rate here but the depth)

    I agree! I would't invest in India either. I believe awareness about these facts will save atleast few folks from being duped of hard earned money.




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  • gbof
    02-23 12:58 PM
    people,

    i just returned from an infopass meeting... the guy i talked to said that they recently have a directive from the DHS/USCIS that they want to separate the legal stuff from the illegal stuff and hence they are planning to adjudicate a record number of EB apps in the next quarter or two... does anyone else concur? is this true or were my ears just ringing in that meeting?

    --shark

    A Lot goes on in the last 2-qtrs, especially in last qtr(july-sept). I won't be surprised if he is right. There are many loop-holes they may want to plug before CIR or any immigration reform takes shape.




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  • Keeme
    08-14 03:10 PM
    This is the third place where I am posting this ..well why not ..In my view this is worth a shot since greenspan is also talking about it.
    -----------

    http://news.yahoo.com/s/nm/20080813/bs_nm/usa_economy_greenspan_dc
    -----------
    Former Federal Reserve Chairman Alan Greenspan predicts U.S. house prices will begin to stabilize in the first half of next year, the Wall Street Journal reported on Wednesday.

    ADVERTISEMENT

    Greenspan also offered a novel suggestion to bolster the housing market -- increase the number of potential home buyers by admitting more skilled immigrants


    This is what will help us to clear backlog ! Wanted to post it few days back when news came from UK they wanted to bring more immigrants as one of solution to get their economy back on track.

    Guys, IF any thing may come as 'rescuer' this year and help us to come out from this backlog and move the dates forward in next year visa bulletins, that would be 'current economy and housing market situation'. IF any thing can convinced Congress to clear visa recapture bill this year, it would be only 'current housing market situation'. To get the economy back on track next year, housing market has to be improved and its not happening !



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  • HV000
    07-23 11:52 AM
    Show me the law that says they MUST use 140,000. Sadly, I think you're wrong.

    Well, the law says to issue 140,000 visas for Employment based immigration!!
    The issue is USCIS that did not utilize those numbers when there was a HUGH BACKLOG!!




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  • billu
    09-04 08:10 AM
    i feel sad for our country of birth which is in such a bad shape that we would rather be exploited and wait 10+ yrs for GC in USA than go back!!!



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  • bala50
    04-30 10:33 AM
    Web cast Link


    http://judiciary.house.gov/schedule.aspx




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  • go_guy123
    09-01 10:44 AM
    Landed on H1b in 1998, still stuck in the muck

    EB3- I is finished pretty much. It is illogical now to expect GC even. Need to accept reality and look at other options in life.



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  • swo
    07-23 10:58 AM
    Show me the law that says they MUST use 140,000. Sadly, I think you're wrong.

    Enforce EXECUTIVE BRANCH AGENCY - USCIS to consume unused EB Numbers


    Firstly, the executive branch agency USCIS failed to UPHOLD the law by not fully issuing 140,000 numbers when there was hugh backlog.

    Secondly, Change the following:
    1. Allow USCIS to use previous unused EB numbers since 2000.
    2. Change the way the Dept. of State allocates the EB numbers throughout the Fiscal Year. The Dept. of State should allocate the EB numbers UNIFORMLY across the 4 QUARTERS.




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  • ashkam
    05-02 10:07 AM
    Why is there so much discussion surrounding this stimulus package, I thought all of were highly skilled, high educated clique who made the big $$.
    I have seen numerous occasions where people boast of large pay packets, bill rates, and now this is a measly $1,200, an amount that could be made with working 2 days is generating such a huge discussion. This does not add up???

    Not everybody on this forum earns 144,000 a year. What world are you living in my friend? Do you not get out that often?



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  • sanju_dba
    08-12 01:41 PM
    doin the math...

    200Million / 2k = 125k H1 employees that will fall in 50-50 rule?


    Is that a realistic number? does body shop based consulting companies have that many employees?

    If thats not right , that bill is just waste on their efforts ? huh?




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  • senk1s
    01-04 12:39 PM
    I called in yesterday to the tollfree # - this was the bottomline after the long chat :(
    "your case is 1 day beyond the normal processing time- we'll open a SR and send to the IO - please call back after 60 days to check back on the status of the service request"



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  • lazycis
    11-24 04:48 PM
    it does say that H1B ext beyond 6 years can not be granted if there is not underlying pending process for GC (LC, 140 or 485).

    However it does not talk about 'what happens if an ext is already granted'? so it still remains gray area. did I understand correctly?

    If extension has already been granted, it remains valid until it's expired, revoked by USCIS, revoked by employer or employer goes out of business. However, H1B status is technically lost (similary to the situation when h1b holder leaves the petitioner but petitioner never revokes h1). Even if USCIS does not revoke the extension, it will be investigated during new I-485 processing/H1 transfer or extension.




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  • skv
    06-28 02:35 PM
    I got my certified yesterday 6/27
    EB-2, India, Atlanta feb 21'07

    All the best !!! Good to know.



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  • yagw
    07-11 02:08 PM
    The per country limit was not adhered to even in the 3rd quarter. Remember how EB2 India rose like a phoenix from Unavailable to April 2004? Once they determine that there are enough visas for spillover, the per country limits don't exist. The question is how they decide to distribute it among the retrogressed countries.

    http://travel.state.gov/visa/frvi/bulletin/bulletin_4310.html




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  • Humhongekamyab
    04-30 02:15 PM
    Does anyone else have the same problem. The webcast is erroring out.. saying page not found .

    Let's try at 2:30 PM.



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  • jamesbond007
    09-09 01:44 PM
    Gapala made some very good analysis in his posts on this thread.

    But......
    Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
    NRI's from the US are only one piece of the puzzle who are funneling in money to India.
    There are NRIs from other countries.
    Then there are business people making big profits dealing with other countries.
    And local business people who have a lot of black money. All of them together are keeping up the prices.

    There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
    The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)

    Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.

    Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.

    All that being said, it is still scary to me.
    In my opinion, anyone looking to make a quick buck should not get into it at this time.
    If you want to buy because you want to go back and settle there in a couple of years, then that is different.

    [quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.

    Also better salaries all around fueled by attrition of talent to the IT sector. [quote]

    This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.

    In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.

    Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
    That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?

    I do not know what to tell ya man! To me its really scary

    A small credit crunch (crisis is not required) might bring the entire economy to floor.

    fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)




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  • javaconsultant
    10-11 04:33 PM
    vparam...

    Thanks for your detailed anwers.

    have you opened your own LLC currently while on EAD?


    For all those who have sent PM.... Please note I am not an attorney or accountant... But then I had consulted my account and few attorney's ( paid the required fees to get them answered)... So please use your own judgement/caution.

    1. Yes you can open a LLC singly or jointly with your wife/friend/anyone.

    2. You can start the LLC even when you are on H1B but it is better that you wait till you get your EAD to get oprationalized. reason very very conservative view is that you cannot even write a check for your company or deposit a check... but this is a very conservative view....

    3. To open a LLC you can use an accountant ( if you have one, it will be cheaper by a couple of hundred dollars) or use agencies like www.legalzoom.com/legalzip/LLCs/llc_procedure.html .... I have used both in the past....

    4. Intially you can just form LLC as single or joint partnership and then elect as S corporations for taxing.... I forget within which period it is to be done, if I correctly remember when you file your first tax return or within 6 months you need to elect as filing as single person entity( then it becomes like your personal income) or you could elect as S corp....

    5. You will a tax id for the LLC, business license and other documents when you form a LLC, You will need to maintain book and tax records for 3 years... best to have it managed by an accountant

    6. You/ your spouse can work for your LLC.... Some of you if you want to after 180 days change employers can move into your LLC and maintain that you are employed in same occupational duties for your own LLC...


    Hope I have been able to answer your questions....:cool:




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  • meridiani.planum
    12-11 01:00 PM
    for the first time (in 5 years that I have been tracking them) the visa bulletin looks like it was "made in America". The america of old, the one that is so organized that every official form includes an estimated time on how long it takes to fill it up. The one where every street has a clear name marker, every intersection has multiple stop lights, multiple signs. Where the little cats-eyes on the road are color coded[1] Where lines form automagically when a bunch of people converge on anything. Where you can go to any .gov site and pick up whatever statistics you want on anything from agriculture, to factories, to healthcare.
    This is a nation built on documentation and organization.

    For the first time the visa bulletin does not look like some discarded bingo card or four monkeys getting excited on a typewriter. For the first time the numbers make sense, they explain why they are what they are. They even put our prediction threads out of business by coming out with their own set of predictions for the rest of the year.

    USCIS has had data like this for eons (how many cases pending in which category and from which country). It took the usual american obsession with data and organizing data to come out with all this.

    Kudos to them.

    Things remain bleak, but just to see something so neatly organized and put out was heartening to me.

    P.S: and no, this is not them just doing their job. Their job is to put out the dates every month (like they have been doing for atleast over a decade). To clearly spell out how many cases are pending (like their recent report), and now to predict how these dates will move, is IMO going beyond the minimum requirements of the job, and is much appreciated.

    [1]: blue meaning a firehydrant, yellow as a separator of lanes in different directions, white in the same direction, red is dont enter. found the meaning of the blue one recently, and was impressed. atleast in CA this is what they are.




    psaxena
    08-12 03:14 PM
    This bill is purely on the theory of Common man vs politician
    What is a politician?
    Politician is a contaminated breed of Human species. Here's the difference.

    When a common man see the problem, he tries to make a resolution and tries to make a permanent solution helping everyone.

    Now what does a politician do.. he see a problem and think how can he pretend to get a resolution while trying to make use of the problem for his political advantage hurting everyone and even hurting who were not effected by that problem and then use the same cycle to resolve the residual problems of the so called "solution" for his gains.. and this goes on and on and on.

    Moreover the worst part of the story is no matter where you go in this world, you will find this weed growing everywhere and there is no weed control chemicals to kill them and surprisingly common man is a fertilizer to grow it.




    pani_6
    07-24 07:40 PM
    EB-3 I wake up and send the letter out..we need to make relevant authorities aware of our situation. Uncertanity and doom stares us come on EB-3 I lets see some action!



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